I recently bought a park that came with 2 acres of raw land, as a bonus I guess. It is zoned residential, so I don’t want it. The problem is that to get water/sewer to it, you’d have to go through the park, or tap into the parks water/sewer. Couple options that I see possible:
Sell the land and grant the buyer access to the parks water sewer, which we would submeter and bill back to them. We’d have to have some recourse if they don’t pay the water bill. Also would have to make sure we have adequate capacity in our system to add home(s). Not sure how having an arrangement like this (easement?) would affect a conduit refinance, which we are planning to do.
Just give the buyer an easement so they can runs pipes through the property, but not use our pipes.
Sell the land for considerably less without an easement or arrangement to share water/sewer.
Our park also requires a lift station, so that effects everything as well.
Can you get it zoned to MH and expand upon the park?
I wouldn’t enter a relationship on permanent sub metering or lift station.
Is the current 2 acres batched in as collateral for existing loan? Something to consider , release provisions.
It would be easier to see with a visual , when I did this , the new subdivided parcel had a 5 foot easement on the surround I believe. So in theory if both parcels have easements where they line up. It might be more valuable to do entitlements to the lot … get the water and sewer thing figured out, pitch it to the city about someone building SFH, get them to build their own lift station that they take control over and you can jump on. If that makes any sense. Far fetched but thats what I would see if I could do .
Lastly, storage units or something else you can add on to make it more valuable and you probably need some type of rezone on that scenario also.
@asmith4981 Congrats on the purchase! @Deleted_User_ME may have the best solution. See if you can expand the park. Otherwise…
Check with the city/township on cost for tap fees which could be $50K or more.
Call a local building department as ask what is the setback for a residential home and density as well. This will give you a good idea of how many homes you can place on that parcel. 2 acres is not that much when you figure in roads, set backs and retention ponds that are now required.
Also ask the city if the land is buildable, it may not be. It has to pass a perk test.
Where is the land, in front or back of your MHP - if it is in back would the homeowners have to drive through your park to get to there homes? Think about wear and tear on your roads.
Call either a local builder or home builder association and ask them if your parcel were for sale if they can recommend buyer.
In the end, you may have a nice 2 acre park to put in a dog park and a set of swings.
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There are lots of “experts” out there who are willing to give you “free” advice in regard to so many issues which are relevant: construction costs, site design, utilities, zoning and land use, public hearings, construction financing options, homes and installation, home financing and foundations, . . . All have to fit into a “product” which has meaning to a prospective resident in the context of market conditions, alternative housing types, home buyer financing options. The starting point has to be: what are your objectives and resources and what are the market conditions, followed by a “cocktail” napkin analysis of the “top down” feasibility.